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Forum to develop open standards for alternative payments

March 23, 2011

The International Payments Forum Tuesday announced the formation of the ATM Integrated Payments Standards Forum (IPSF), which will develop an open standards-based approach to achieving broad acceptance of alternative and nontraditional payments through ATMs.

In addition, IPSF will address software and hardware concerns and determine appropriate financial services for ATMs. The organization also will decide how to support new payments applications, such as mobile and card-less transactions.

The initiative's aim is to bring together key industry stakeholders and to develop best practices for message and communications protocols, security and compliance, mobile and card-less transactions, and use-case recommendations, officials said.

The International Payments Forum is a financial-services industry online community whose members have access to premium content, forums and working groups for information sharing and exchange. Its financial-services outreach initiative operates under the auspices of the ATM Industry Association (ATMIA). 

The International Payments Forum is comprised of a voluntary group of payments experts who publish industry best practice recommendations for enabling integrated payments through ATMs.


 

Included In This Story

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ATM Industry Association (ATMIA)

The ATM Industry Association, founded in 1997, is a global non-profit trade association with over 10,500 members in 65 countries. The membership base covers the full range of this worldwide industry comprising over 2.2 million installed ATMs.

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